This study provides a systematic analysis of parity components of the cohort fertility decline in 32 low-fertility countries in Europe, North America, Australia and East Asia. We decompose the change in cohort fertility in each country among women born between 1940 and 1970 using parity...

This paper examines the impact of demographic factors on saving, investment, and external balances. We derive a number of semi-structural equations from national accounting principle and the principle that external balances for the world as a whole must sum to zero. The resulting equations...